chargebacks disappear! make your deductions and preso - july 2018... · 2018. 7. 19. · 1....
TRANSCRIPT
Make your deductions and chargebacks disappear!We’ll show you how.
July 19, 2018 - Seattle
Agenda1. The purpose of iNymbus
2. Why Deductions and Chargebacks will get worse, not better
3. What can you do?
4. What is Cloud Robotics?
5. Automation (Algorithms)
6. DeductionsXchange
7. Discussion
Presenters
Rohit PatelCredit & Collections
Consultant
Credit & Collections expert, former VP WW
Credit & Collections Warner Bros
Sreedhar NarahariCEO & Founder
iNymbus
Credit & collections expert, founder and member of the
Board, HighRadius
The Purpose of iNymbus
iNymbus exists to solve only one problem:
retailers & shippers deductions and chargebacks.
Why? Because we can’t stand …● Our customers wasted manpower and
brainpower copying transactions back and
forth between complex and ever changing
retailer & shipper systems,
● Outsourcing either onshore or offshore to
attempt to solve these problems,
● Giving one more dime than required to
Amazon, Walmart, FedEx, UPS and the like
for chargebacks/deductions.
The purpose of iNymbus.
Your history is our history.
Staff Augmentation
Seasonal Temps
Software Packages
OutsourcingCombo of Everything
The history of Credit and Customer Operations Departments attempting to solve the problem of Retailer & Shipper Deductions and Chargebacks follows a familiar pattern …
2000’s Now
Why don’t chargebacks get better?
1. Outsourcing just gives your deductions &
chargeback problem to someone else, doesn’t
improve the process.
2. Software packages simply make some parts of
the process more organized and creates new
issues, and gains are small.
Why can’t you get ahead?
Sound Familiar?
● NO! We realized that chargebacks and
deductions were unbeatable with
existing solutions.
● The retailers and shippers, due to their
size and technology investment, will
always outpace our clients.
● They use automation and a ruthless
ability to take every single chargeback
and deduction possible.
Will these solutions ever work?
iNymbus: is not just a bigger stick.
iNymbus, simply put, is a totally
different way of dealing with
deductions and chargebacks.
It allows you to fight fire with fire,
and bring your chargebacks &
deductions down to zero, and keep
them there consistently.
But let us explain.
Trend: Chargebacks Increasing and Recoveries Decreasing
Average % invalid chargebacks received: 2012 - 5%, 2015 - 10%
Customer Deductions: 2015 Benchmark Study Attain Consulting Group
Average % invalid chargebacks recovered: 2012 - 70%, 2015 - 60%
WHY?
Retailer & Shipper
automation & sophistication
is increasing at a faster rate
than their vendors & sellers.
Investment in technology by
them is HUGE and relentless.
How bad are deductions & chargebacks really?
Example: Amazon chargeback portal constantly changes
“From packaging problems to technical errors in transmitting Electronic Data Interchange (EDI), Amazon will charge vendors for almost anything they can.” CPC Strategy 2015
“As expected Amazon has recently added to their list of chargebacks and are now clamping down on those Vendors that are excessively putting orders on to backorder.” Ecommerce nurse 2016
“Amazon leads large top retailers in tightening their EDI vendor compliance requirements with several EDI updates and added chargebacks in summer 2017.” 1edisource 2017
What are the costs?● Expense
○ Processing chargebacks takes manpower to identify,
research, validate, resolve and dispute chargebacks
and deductions.
○ One headcount can process only about ~1500
chargebacks a month, at ~26 minutes
per chargeback
● Revenue○ The volume of claims combined with errors in claims
means write-offs increase
○ Not unusual for claims to be 10% of sales
○ Retailers specify time periods within which
chargebacks need to be filed
○ Getting behind in processing increases write offs
tremendously.
What are the costs? continued
● Cash Flow
○ Retailers like Amazon and Walmart don’t
reimburse quickly, any delays in filing claims
delays cash
● Employee Morale
○ Finance Departments can face mountains of
paperwork in processing chargebacks
○ Prevents management from the important
analytic work of process improvement
○ Processing chargebacks is mind numbing
work, very low on the employee satisfaction
scale and unacceptable to millennials
What can you do?
OptionsSolutions Strategic Implication
1 Staff Augmentation - more
people to process deductions
Not scalable, unsatisfying work.
2 Outsourcing deductions
processing function
Transfers the problem to someone else, but
still a problem, just a little cheaper.
3 Latest and greatest
deductions mgmt software
Improves management of the problem, but
doesn’t reduce deductions.
4 Cloud Robotic Automation-Also known as RPA (Robotic Process
Automation), But better
Stays current with vendor portals, scales up
and down as business changes with no
incremental cost.
Fight tech with tech
Cloud Robotic Automation
Businesses need to arm themselves
with the same kind of technology
that FedEx, Amazon and Walmart
are using.
Fight technology with technology,
and win!
What is Cloud Ro-bot-ics?
Cloud is infinite ...
Because of super-large and
super-cheap data storage enabled
by “the cloud”, business processes
and computing are no longer
constrained by the size of a data
center and data storage devices.
What is a bot?
Bots are everywhere...
90% of Wall Street stock trading are made by bots.
CNBC.com
Slate.com
Bots are everywhere...
Geico.com
Extremely traditional structured business and old industry is embracing the cloud and robotic automation.
Automation (Algorithms)
Chargeback Data for Bots Automation
• Bot automation accepts data from any kind of source and stores it in the cloud
• Claims Data From Retailers• POD data from carriers’ …• etc.
• Bot Disputes claims in vendor portals• Dispute Claims in Vendor/Carrier Portals
• Upload Claim packages to Vendor Portals
Bot disputes the Chargeback and attaches the routing email to dispute
Advantages of Cloud Robotic Automation
1. 30X speed in processing deductions and
chargebacks increases exponentially which
enables ability to collect
2. Costs reductions are enormous
(typically 80%+ reduction)
3. Silently scales up and down with business
volume seamlessly, with no intervention
4. Eliminate outsourcing labor in the deductions
and chargeback processing function
5. Collections Team can actually work on
exceptions and resolve real business process
issues, rather than managing paperwork
FedEx Claims Process Before
DeductionsXchange Process
DeductionsXchangeiNymbus cloud robotic automation
Product Demo
● Demo – Vendor Portals
● DX Portal / Dashboard
Cloud Robotic Automation Reports
Why is iNymbus different?
1. First person knowledge of Credit and Collections space.
2. Cloud based solution scales with you, no growth challenges.
3. Bot building capabilities in-house.
4. Artificial intelligence capabilities in-house.
5. Processes which keep up with shipper and retailer portals
and pivot quickly.
6. Systems Architecture is best in class.
7. Implementation speed is weeks and not months.
8. Pricing is a software as a service (SaaS) model.
9. Customer has a direct line into iNymbus for issues.
10. No cost trial: Use the service for 30 days prior to payment.
Ten Reasons
DeductionsXchange disputes and resolves chargebacks for you.
Discussion?Questions?
